Sheepshead Bay
Bookkeeping and accounting in Sheepshead Bay, Brooklyn
Charter and party boat books live or die on the season.
What you get
- Accounts reconciled every month
- Statements you can make decisions from
- Payroll and sales tax filed on time
- QuickBooks set up to fit the business
The MyCleverCPA team
- 25+ years in regulated finance, compliance and audit
- Tax work led by a CPA. Jillian Sinel holds the CPA and the CAA
- Brooklyn Office at 1684 E 18th St, Brooklyn, NY 11229
In Sheepshead Bay
Bookkeeping and accounting for Sheepshead Bay
Revenue arrives across roughly six months, expenses do not, and crew payments have to be classified correctly while they are being made rather than reconstructed before payroll filings are due.
Boatyards add work in progress on top, which is the difference between knowing the yard made money on a job and assuming it did.
Scope
What is included in bookkeeping and accounting
The same work wherever you are. Scoped to what you actually need.
Monthly close
- Bank and credit card reconciliations
- Accruals and adjusting entries
- A close calendar you can rely on
Reporting
- Profit and loss, balance sheet and cash flow
- Management reports for owners and lenders
- Budget against actual, and the variance explained
Payroll and sales tax
- Payroll processing and payroll accounting
- Federal, New York State and local payroll filings
- Sales tax registration and returns
Cleanup and systems
- QuickBooks setup, cleanup and conversion
- A chart of accounts rebuilt to fit what you do
- Inventory and job costing where they apply
What this covers
- Bookkeeping and general ledger maintenance
- Financial statements and management reports
- Account reconciliation and adjusting entries
- Payroll processing and payroll accounting
- Payroll tax compliance
- Sales tax compliance
- QuickBooks setup, cleanup and conversion
- Financial and accounting analysis
- Budgeting, forecasting and cash flow analysis
- Cost, profitability and performance analysis
- Internal accounting support and advisory
- Inventory control
Local tax
Two neighbors, two completely different answers
The cleanest illustration of how the Unincorporated Business Tax works sits on one block here. The owner of a two family who rents out the upstairs is exempt, because holding, leasing or managing real property for rental income is specifically outside UBT. The charter boat operator next door is squarely inside it, subject to the 4% rate above the $95,000 gross threshold.
For the landlords, the work is Schedule E: allocating between the owner occupied and rented portions, depreciation, and tracking improvements into basis so the eventual sale is not guesswork. For the boat operators it is vessel depreciation, fuel, dockage and bait, and a revenue curve that is almost entirely concentrated between May and September, which makes estimated payments a planning exercise rather than a formality.
Zone 1 for MCTMT at 0.60%, with the self employment threshold moving from $50,000 to $150,000 for 2026.
How it works
How bookkeeping and accounting runs
Four stages. Most of the value sits in the first two, before anything is filed.
Look at what exists
The current file, the bank feeds and the last month anyone actually reconciled.
Clean up the history
Past months reconciled and categorized before anything new gets built on top of them.
Close every month
A fixed schedule, with statements that arrive without being chased.
Review the numbers with you
Reports walked through, so they answer the question you actually have.
Questions
Frequently asked questions
I rent out the second floor of my house. Is that a business for city tax?
Not for the Unincorporated Business Tax. The exemption for holding, leasing or managing real property covers you. The rental income still goes on Schedule E for federal and state, and that is where the allocation and depreciation work happens.
My income is all in five months of the year. How do estimated payments work?
The annualized income method usually suits seasonal businesses better than four equal payments, because it lets the installments follow the actual earnings pattern instead of assuming an even year. It takes more bookkeeping during the season and avoids penalties that would otherwise be unavoidable.
Do you work with charter and party boat operators?
Yes. Vessel depreciation and the capitalize against repair question on engines and gear are the two that move the number most, along with how crew are treated for payroll.
Our books are a mess. Is that a problem?
It is the normal starting position. Cleanup is a defined piece of work with an end, and we would rather do it properly once than build a year of planning on top of numbers nobody trusts.
Do you work in QuickBooks?
Yes, including setup, cleanup and conversions from other systems. If you are already on something else that works, we are not going to move you for the sake of it.
Can you run our payroll?
Yes, along with the payroll tax compliance that goes with it. Payroll is also where worker classification gets decided, and getting that wrong is expensive in New York.
How often will I see numbers?
Monthly, as a rule, with the reporting shaped around what you actually decide from. A statement nobody reads is a cost, not a service.
Also in Sheepshead Bay
Our other services here
Tax preparation and planning
A charter captain on Emmons Avenue has a return that looks nothing like the dentist two blocks inland.
Tax preparation and planning in Sheepshead BayTrust and estate tax
Two and four family houses passed between generations are the common estate asset here.
Trust and estate tax in Sheepshead BayNonprofit accounting
Civic groups, youth programs and waterfront associations here are usually small enough for the 990-N.
Nonprofit accounting in Sheepshead BayIRS representation
Cash intensive businesses draw examination attention, and the charter and restaurant trade here is cash intensive by nature.
IRS representation in Sheepshead BayTalk to us about bookkeeping and accounting in Sheepshead Bay
Book a time online, or call the Brooklyn office directly.
Nearest office
Brooklyn Office
1684 E 18th St, Brooklyn, NY 11229
Phone
Office hours
Sunday to Friday, 11am to 8pm Eastern.
Closed Saturday.